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18635 <br />$350,000 an July 1 in each of the years 1981 to 1983, <br />inclusive; and <br />$400,000 an July 1 in each of the years 1984 to 1990, <br />inclusive. <br />Section 2. Si natures and Re istration. Each of <br />the bonds shall be personally signed by the facsimile signature <br />of the Mayor in office an the date of execution of such bonds; <br />each of the bonds shall be countersigned by the Finance Officer <br />in office on such date; the coupons appertaining to the bonds <br />shall be executed with the facsimile signatures of such Mayor <br />and Finance Officer; and each of the bonds shall be registered <br />in the Improvement Bond Register by the Finance Officer of the <br />City of Eugene, Lane County, State of Oregon. <br />Section 3. Secures. The City has assessed the cast <br />of public improvements to benefited properties and all monies <br />collected therefrom shall be placed in the Bancroft Bond Redemption <br />Fund and applied to the payment of principal and interest on <br />these bonds. The full faith and credit of the City are also <br />pledged to the .successive holders of each of the bonds and of <br />the interest coupons appertaining thereto, for the punctual <br />payment of such obligations, when due; and the City shall levy <br />annually, if required, a direct ad valorem tax upon all of the <br />taxable property within the City in sufficient amount, after <br />taking into consideration discounts taken and delinquencies <br />that may occur in the payment of such taxes, to pay the bond <br />and bond interest obligations promptly as they respectively <br />mature; and the City covenants with the holders of its bonds, <br />to levy such a tax annually as required during each year that <br />any of the bonds, or of bonds issued to refund them, and bond <br />interest obligations, are outstanding. <br />Section 4. Form. The bonds and the coupons attached <br />thereto shall be in substantially the following form, the terms <br />of which are hereby adopted: <br />UNITED STATES OF AMERICA <br />STATE OF OREGON <br />COUNTY OF LANE <br />CITY OF EUGENE <br />GENERAL OBLIGATION BANCROFT IMPROVEMENT BOND, SERIES ~rGr~ <br />No. <br />$5,000 <br />City of Eugene , in the County of Lane , State of Oregon, <br />acknowledges itself indebted and for value received hereby promises <br />to pay to bearer on the first day of July, l9 , the sum of <br />Page ~ ~- Ordinance <br />